Take a look at the table comparing functionality with other VLE products on the market. The great thing about using Sharepoint as a VLE is that pretty much every university, in the UK at least, is licensed for staff already so this becomes a matter of getting more functionality and value out of existing and familiar technology. I've often been asked to help a university write a business case for Sharepoint. A starting point could be to look at how much is currently spent on funding the licensing and/or maintainance of the institutional VLE and then look at the compartitive costs of SharePoint.

We’re using SharePoint as an LMS. Because this is not common in the US, I would like to reach out to others who are using SP in a similar fashion. Maybe we can exchange ideas/best practices. edmondsonj@queens.edu